Buy-side firms are looking for less clutter and more liquidity from swap-execution facilities before diving into the market actively, Cynthia Meyn, executive vice president at PIMCO, said on the sidelines of the SIFMA Tech conference this week. The 24 SEFs registered with the Commodity Futures Trading Commission list 80,000 symbols, with trade dropping rapidly after the top 10 or 20 liquid names from industry reports, Meyn said.

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